2024-04-05-accounts

NLPS Trust for Progressive Judaism (Registered charity, number 1104610) Financial statements for the year ended 5 April 2024

Page	Contents
2 - 3	Trustees’ annual report
4	Independent examiner’s report
5	Receipts & payments account
6	Statement of assets & liabilities
7	Notes to the accounts

NLPS Trust for Progressive Judaism Trustees’ annual report for the year ended 5 April 2024

Full name NLPS Trust for Progressive Judaism

Other names by which the charity is known NLPS Trust

Registered charity number 1104610

Principal address 110 Linkside Avenue, Oxford, OX2 8JB

Trustees Jane Greenfield Karen Katz Michael Hart, Chairman Michael Woodcock Mike Leci Nick Shire-Feldman, Treasurer Nicola Solomons Philip Zeligman Steven Sanderson

Independent examiner

John O’Brien, employee of Community Accounting Plus, Units 1 & 2 North West, 41 Talbot Street, Nottingham, NG1 5GL

Governance and management

The charity is operated under the rules of its original trust deed dated 30 April 2004 and most recently amended with a third Supplemental Trust Deed dated 11 May 2018.

Adverts for trustee recruitment are placed on the Trust website and in Liberal Judaism publications. Existing trustees also promote the recruitment by word of mouth. After a preliminary meeting with other trustees, candidates attend a board meeting as a participating observer. Subject to agreement on both sides, they are then appointed.

Objectives and activities

The advancement of Progressive Judaism.

Public benefit statement

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.

Summary of the main activities undertaken for the public benefit

The activities benefit a public class of people. They do so by providing financial support to synagogues and organisations which are involved in advancing Progressive Judaism, helping towards the cost of facilities, educational courses, training and outreach activities.

2

NLPS Trust for Progressive Judaism

Summary of the main achievements during the period

We made grants totalling £64,000. Among the areas for which grants were made were youth activities, education, IT, structural improvements to buildings and development.

Financial review

In light of current high interest rates and the reduction in our income from dividends, we made a short-term transfer of half the capital into cash. This is kept under regular review in line with movements in interest rates and market prospects.

The charity’s policy on reserves

The Trust has no employees and no premises. Its investments are its reserves. The Trust distributes all of its income, making extremely conservative estimates of future income in respect of future commitments.

Financial risks

The main financial risks faced by the Trust are a sustained reduction in investment income and in the value of investments. The Trust will always be able to meet its commitments, because they are time-limited.

The Trust's policy is to maintain the real value of the Trust’s capital in the long term, though we have this year chosen to prioritise income. The fund is managed accordingly by professional advisers.

Signed on behalf of the charity’s trustees:

Signed ______ Date _ Michael Hart, Trustee

3

Independent examiner’s report to the trustees of NLPS Trust for Progressive Judaism for the year ended 5 April 2024

I report to the trustees on my examination of the accounts of NLPS Trust for Progressive Judaism (the charity) for the year ended 5 April 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed ____ Date _______ Pi 07/06/24 John O’Brien MSc, FCCA, FCIE Employee of Community Accounting Plus

4

NLPS Trust for Progressive Judaism Receipts & payments account for the year ended 5 April 2024

2023 £ Note Receipts 55276 Income from investments 2 114 Bank interest 55390 Total receipts Payments 756 Accountancy fees 209 Administration 97 Bank charges 55014 Grants paid 344 Insurance 180 Travel expenses 56600 Total payments (1210) Net receipts/(payments) 72169 Cash funds at start of this period 70959 Cash funds at end of this period	2024 £ 48289 126
	48415
	756 166 60 63948 376 305
	65611
	(17196) 70959
	53763

5

NLPS Trust for Progressive Judaism Statement of assets and liabilities at 5 April 2024

2023			2024
£	Cash assets	Note	£
70959	Bank accounts		53763
70959			53763
	Other monetary assets
7804	Debtors & prepayments	3	23491
1914412	Investments	2	1932710
1922216			1956201
	Liabilities
(756)	Creditors - Accountancy fees		(768)
(756)			(768)

These financial statements are accepted on behalf of the charity by:

Signed _____ Dated _____ Nick Shire-Feldman, Trustee

6

NLPS Trust for Progressive Judaism Notes to the accounts for the year ended 5 April 2024

1. Receipts & payments accounts

Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received and cash spent will include transactions through bank accounts and cash in hand.

2. Investments

The Trust holds investments managed by Rathbones.

Main Portfolio Goldman Sachs Liquid Reserves	£ 932710 1000000
	1932710

3. Debtors & prepayments

Unit Trust distributions receivable Insurance - prepayment	£ 23192 299
	23491

4. Trustees’ remuneration

During this period, a total of £305 was reimbursed to 4 trustees for travel expenses incurred.

5. Related party transactions

There were no related party transactions in this period.

6. Glossary of terms

Creditors: These are amounts owed by the charity, but not paid during the accounting period.

Debtors: These are amounts owed to the charity, but not received in the accounting period.

Prepayments: These are services that the charity has paid for in advance, but not used during the accounting period.

7